One of the approaches to setting budgets is known as the 'top down' approach. This is best described as:

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The 'top down' approach involves senior management setting the budget targets for the organization, which are then broken down and allocated to lower levels of management. This approach is commonly used in larger organizations where it may be difficult to involve all levels of management in budget setting.

One of the Approaches to Setting Budgets Is Known as the 'Top